Operator

Greetings. Welcome to the Avis Budget Group Q1 2026 Earnings Call. [Operator Instructions] Please note that this conference is being recorded.

I will now turn the conference over to David Calabria, Treasurer and Senior Vice President of Corporate Finance. Thank you, David. You may begin.

David Calabria
Treasurer & Senior VP of Corporate Finance

Good morning, everyone, and thank you for joining us. On the call with me are Brian Choi, our Chief Executive Officer; and Daniel Cunha, our Chief Financial Officer.

Before we begin, I would like to remind everyone that we will be discussing forward-looking information, including potential future financial performance which is subject to risks, uncertainties and assumptions that could cause actual results to differ materially from such forward-looking statements and information. Such risks and assumptions, uncertainties and other factors are identified in our earnings release and other periodic filings with the SEC as well as the Investor Relations section of our website. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results and any or all of our forward-looking statements may prove to be inaccurate and we can make no guarantees about our future performance. We undertake no obligation to update or revise our forward-looking statements.

On this call, we will discuss certain non-GAAP